Crypto rating platforms sounded the alarm for 3 altcoins next week. Unstable price movements, developer apathy, and poor market performance were factors that fueled negative expectations.
Weiss Ratings rated these 3 altcoin projects “very weak”
Pepe (PEPE), which is in the first place, is becoming unstable in terms of price as the interest in social media fades. The meme token has exhibited an abnormal decline relative to its competitors in the past 24 hours. While BTC and ETH were stable, they lost more than 5% on the day. PEPE, which debuted with a triple-digit rally in April, is currently trading at $0.00000168. Despite gaining more than 90% in value over the past 30 days, it has shown in the past that it can quickly return these gains.
Another problem with PEPE is that it lacks any real benefit. This means that price movements are largely hype-driven. Also, even the team behind PEPE describes the project as “a meme token with no intrinsic value or expectation of financial returns.” Crypto rating platforms recommend staying away from PEPE for the short term.
vomiting (KSM)
KSM is once again among the risky cryptocurrencies. KSM, which acts as a testnet for Polkadot (DOT), continues to receive poor reviews on crypto rating platforms. Kusama received the “E” or “very weak” bot on Weiss Ratings, a platform focused on providing risk/reward ratings for hundreds of cryptocurrencies. Evaluations are based on technology adoption and market performance ratings of a particular crypto.
In terms of price, KSM is down around 1.5% over the last 24 hours. It has recorded more than 5% value compared to the last 14 days. According to the ATH level, the depreciation exceeds 40%. Technically, the price is trading below its 200-day simple moving average (MA). This shows that its average price over the last 200 days is currently lower than the current market price. Also, it signals a potential downtrend.
NEAR Protocol (NEAR)
Near Protocol is a dApp platform focused on bringing the DeFi industry to the masses. Like KSM, NEAR has a poor rating on Weiss due to a weak ‘D’ rating in terms of both market performance and technology adoption.
In terms of price, NEAR has lost 2.5% over the last 24 hours. The altcoin posted similar returns last week, with monthly gains of over 30%. At the end of the second quarter, the treasury of the protocol has dropped sharply to $900 million after NEAR tokens dropped below $1.30 earlier this month. The altcoin was overtaken by 94% of the top 100 cryptos last year.
cryptocoin.com Huobi Token (HT), Algorand and Filecoin (FIL) were included in the June list that we quoted as.
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